M&A PIRATES AND BURIED TREASURE
Update: 2023-11-01
Description
There is one certainty in life and that is if you choose any metaphor, Toby Tester can link it to M&A, and he doesn't even blink.
In today's podcast, Toby manages to draw a distinction between the behavioral characteristics of pirates of old and those of several modern-day corporate heavyweights such as Rupert Murdoch, Elon Musk, and Lord Hansen. Toby's view is that just like pirates of old, modern-day pirates possess a number of valuable behavioral traits i.e
- Dare to think like a pirate
- Dare to do things differently
- Don’t listen to naysayers.
- Surround yourself with people not afraid to step out of their comfort zone.
- Be a mentor to others
- Avoid people who complain a lot.
- Approach life with positivity and optimism
- Don’t be afraid of failure.
Moreover, during their conversation, Robert and Toby conclude with several recommendations that the modern pirate (CEO) should add to their M&A toolkit.
- Look at opportunities to deliver value beyond due diligence estimates.
- Don’t accept the synergies defined pre-deal are the only synergies to be delivered- there’s always more, alot more.
- Get people in involved in a joint treasure hunt by running synergy workshops
- Uses M&A as a catalyst to transform.
- Adopt a transformation (not transaction) mindset
- Turn the M&A exercise into a treasure-hunting game.
- Take an activist approach to managing risks.
And Remember: there’s buried treasure in every M&A deal.
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